PJSC Sberbank: Sberbank announces 20% increase in mortgage lending in Russia
Sberbank’s mortgage portfolio continues to grow, with first quarter to third quarter 2021 results showing a 20% increase over the whole of the previous year. The portfolio stood at RUB 5.9 billion in September 2021, up from RUB 4.9 billion at the end of 2020. In the nine months of 2021, more than 776,900 loans were issued, for a total of RUB 2 billion. RUB. During the same period last year, 583,000 loans worth around 1.3 billion rubles were issued. The difference is an increase of 45% compared to last year in total terms and 25% in quantitative terms.
Nikolay Vasyov, Vice President, Head of DomClick Division, Sberbank:
“Sberbank today accounts for more than half of all mortgages. We have seen a demand for our products among the population throughout the year. Naturally, the secondary market is still in the lead, accounting for 75% of all loans. Regarding new buildings, the state support program launched as a crisis measure last April was responsible for growth in the first half of 2021. After changing conditions, we did not raise the interest rate at 7%, rate specified in the decree. of demand for this product. A total of 135,000 loans worth 398 billion rubles were issued under this program. We entered September without significant losses in the new construction loan segment, which is in part due to improved conditions for a number of products and changes to the mortgage program for families with children. .
According to Vasyov, the largest increase in September compared to July 2021 was in family mortgages, due to the expansion of the program to cover families with a firstborn. The volume of loans issued increased by 64% over several months, from RUB 12 billion to RUB 19 billion. A total of 29,500 loans worth 108 billion rubles were issued under this program.
On all programs, mortgage mortgages were issued in Moscow in September, in the amount of 38.7 billion rubles. St. Petersburg (RUB 20.7 billion) and the Krasnodar region (RUB 9.6 billion) also lead in terms of volume of mortgages issued.
Learn more about all of the bank’s mortgage programs on DomClick.ru.
Sberbank of Russia published this content on 06 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 06 October 2021 11:35:09 AM UTC.